6,725 research outputs found
Non-Leaky Buckets: Optimal Redistributive Taxation and Agency Costs
Economists have generally argued that income redistribution comes at a cost in aggregate incomes. We provide a counter-example in a model where private information gives rise to incentive constraints. In the model, a wage tax creates the usual distortion in labor-leisure choices, but the grants that it finances reduce a distortion in investment in human capital. We prove that simple redistributive policies can yield Pareto improvements and increase aggregate incomes. Where higher education is beyond the reach of the poor, the wage tax- transfer policy is under most circumstances more effective than targeted credit taxes or subsidies in increasing over-all efficiency.
An integrated source of broadband quadrature squeezed light
An integrated silicon nitride resonator is proposed as an ultra-compact
source of bright single-mode quadrature squeezed light at 850 nm. Optical
properties of the device are investigated and tailored through numerical
simulations, with particular attention paid to loss associated with interfacing
the device. An asymmetric double layer stack waveguide geometry with inverse
vertical tapers is proposed for efficient and robust fibre-chip coupling,
yielding a simulated total loss of -0.75 dB/facet. We assess the feasibility of
the device through a full quantum noise analysis and derive the output
squeezing spectrum for intra-cavity pump self-phase modulation. Subject to
standard material loss and detection efficiencies, we find that the device
holds promises for generating substantial quantum noise squeezing over a
bandwidth exceeding 1 GHz. In the low-propagation loss regime, approximately -7
dB squeezing is predicted for a pump power of only 50 mW.Comment: 23 pages, 12 figure
- …